Tandem Financial LLC Buys Shares of 4,542 Rio Tinto Group (NYSE:RIO)

Tandem Financial LLC purchased a new stake in Rio Tinto Group (NYSE:RIO - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 4,542 shares of the mining company's stock, valued at approximately $267,000.

Several other large investors have also recently added to or reduced their stakes in RIO. AQR Capital Management LLC acquired a new stake in Rio Tinto Group during the second quarter worth about $518,000. Mather Group LLC. raised its stake in Rio Tinto Group by 87.5% during the 3rd quarter. Mather Group LLC. now owns 2,967 shares of the mining company's stock valued at $211,000 after acquiring an additional 1,385 shares in the last quarter. Advocate Group LLC increased its holdings in shares of Rio Tinto Group by 17.1% during the third quarter. Advocate Group LLC now owns 45,623 shares of the mining company's stock valued at $3,247,000 after purchasing an additional 6,667 shares during the period. San Luis Wealth Advisors LLC grew its position in Rio Tinto Group by 132.3% in the 3rd quarter. San Luis Wealth Advisors LLC now owns 10,579 shares of the mining company's stock valued at $753,000 after buying an additional 6,025 shares in the last quarter. Finally, Fiduciary Financial Group LLC lifted its stake in shares of Rio Tinto Group by 3.7% in the 3rd quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company's stock worth $330,000 after acquiring an additional 178 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Performance

Shares of RIO traded up $0.34 during midday trading on Monday, hitting $62.29. The stock had a trading volume of 1,070,546 shares, compared to its average volume of 3,278,094. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The business has a 50-day simple moving average of $60.72 and a two-hundred day simple moving average of $62.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RIO shares. Macquarie reaffirmed a "neutral" rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. StockNews.com cut Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, January 25th. Finally, Jefferies Financial Group dropped their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

Rio Tinto Group Company Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.